Bharat Hotels – a brand name in the Hotel Industries and runs 5-star properties under “The LaLiT” brand has finally submitted the draft papers with the capital market regulator – the Securities and Exchange Board India to raise the fund of INR 1,200 crore through initial public offer (IPO).

The IPO comprises a sale of equity shares to get a fund of INR 1,200 crore, according to the DRHP filed with the Sebi. The proceeds of the fresh issue will be used towards repayment of loans taken by a company and general corporate purpose.

HDFC Bank Ltd, YES Securities (India) Ltd and Edelweiss Financial Services will lead managers of the company’s public issue.

As of Mar 2018, Bharat Hotels operated 12 5-star hotels, resorts and palaces under the brand name LaLiT & 2 mid-market segment hotels under the LaLiT Traveller brand and offering approx. 2,261 rooms.

Image Source: bharathotel.com